CSPC's HA1406 Hits Primary Endpoint in Phase III Depression Trial
核心洞察
CSPC Pharmaceutical Group (搜索)'s Phase III trial of HA1406 (搜索) for depression (搜索) met its primary endpoint with statistical significance, confirming positive primary efficacy in the treated group.
The positive Phase III result positions HA1406 (搜索) as a potential new treatment option for depression (搜索), a condition with significant unmet medical need.
CSPC also reported a subsidiary profit turnaround forecast of ¥1.18–1.36 billion for H1, reversing the prior year's loss.
CSPC Pharmaceutical Group (搜索) Limited (HKEX:1093) announced that its Phase III trial of HA1406 (搜索) for depression (搜索) met the primary endpoint with statistical significance, confirming positive primary efficacy in the treated group. The result marks a key clinical milestone for the investigational therapy and advances the company's central nervous system pipeline.
Phase III Efficacy Results
The Phase III trial of HA1406 (搜索) for depression (搜索) achieved its primary endpoint, with the treated group demonstrating positive primary efficacy that reached statistical significance. The confirmation of the primary endpoint represents the central efficacy readout for the program, supporting the therapeutic potential of HA1406 in depression.
Corporate Financial Developments
Alongside the clinical milestone, CSPC Pharmaceutical Group (搜索)'s subsidiary CSPC Innovation forecasted a first-half net profit of ¥1.18–1.36 billion, reversing the prior year's loss. The company provided a profit range for the period, signaling a financial turnaround for the subsidiary.
Currency Risk Management
CSPC Pharmaceutical Group (搜索) also initiated foreign exchange (FX) forwards totaling USD210 million, comprising USD120 million and USD90 million tranches, along with an FX swap on June 16, 2026, with Industrial and Commercial Bank of China. The swap requires a USD3.19 million deposit, reflecting the group's efforts to manage currency exposure.